"This call works," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Mad Dash" segment. He pointed out how well Morgan Stanley CEO James Gorman has done at integrating all of the company's different businesses.
There is a renewed optimism among analysts following the better-than-expected earnings results from Citigroup (C), Cramer said. Shares of MS had a nice, extended move higher before gently pulling back, he added, suggesting the stock could return to its recent highs.
Turning to HHGregg Incorporated (HGG), the small-chain retailer had some rather disappointing preliminary results for the fourth quarter. The company expects comparable-store sales to fall 9.9%, with the consumer electronics category dropping 18.9% and the wireless and computing category plunging 22.6%.Cramer added that Best Buy (BBY) could have some less-than-stellar earnings results as a result of weak electronics and PC sales.
-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts